Audio By Carbonatix
Shareholders’ funds in the banking industry contracted by 4.2% to ¢25.4 billion in October 2023, the Bank of Ghana has revealed.
This is compared to a growth of 11.9% in October 2022.
According to the Bank of Ghana, this reflects losses from the Domestic Debt Exchange Programme which impacted the reserves of banks.
The decline in shareholders’ funds, it added, is also attributable to the slower growth in paid-up capital from 4.4% in October 2022 to 0.4% in October 2023.
The equity position of banks is, however, projected to improve as banks step up recapitalisation efforts to meet the 2025 deadline announced by the Bank of Ghana.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Manso Kaniago miners protest extortion by ‘fake’ security operatives
28 minutes -
Probe launched into alleged maternal death at Kasoa Hospital
31 minutes -
No Ghanaian killed in xenophobic attacks – Envoy debunks viral death claims
33 minutes -
Be assertive about your rights – Women and girls with disabilities urged
34 minutes -
Ho Assembly exceeds first-quarter IGF target, records rise in DACF releases
37 minutes -
NDC Accra Zongo Caucus calls for postponement of branch elections
40 minutes -
Ghana must demystify non-interest banking now – Economic experts
42 minutes -
Eastern Region to host President Mahama on ‘Resetting Ghana’ tour
49 minutes -
Police intercept truck loaded with weapons, arrest 2 in Nkwanta
52 minutes -
University of Ghana Co-operative Credit Union holds AGM
1 hour -
NDC’s prudent economic management shields Ghana from global shocks – Asiedu Nketiah
1 hour -
Second chance, not sack – Clergy reject calls to remove Free Zones boss
1 hour -
Apology not enough – Christian Council pushes government to act
2 hours -
No Ghanaian must be silenced – Ahiagbah defends citizen’s right to speak
2 hours -
Politics of insult is killing our democracy – Ahiagbah warns
2 hours